Shareholders Want More ‘Scratch’ Profits

LOS ANGELES (CN) – Genius Products enriched management at shareholders’ expense and diluted its stock so insiders would “reap essentially all of the benefits of the company’s upcoming release of the video game, ‘Scratch: The Ultimate DJ,’ which is expected to generate substantial revenues and profits,” shareholders claim in a Superior Court class action.

Shareholders sued Genius Products, GNPR Investments, and board members Steven Bannon, Trevor Drinkwater and Herbert Hardt. The class is represented by Mark Punzalan with Finkelstein & Thompson of San Francisco.